The three best-selling autos in America have been full-size vans for over a decade till 2024. However final yr, one thing modified. The gold and silver within the gross sales race went to the Ford F-Collection lineup of vans and the Chevrolet Silverado, as they often do. However bronze? That went to a compact SUV.
The Toyota RAV4 took third, and it wasn’t the one SUV to go by the Ram 1500, which had held third place for greater than 10 years. The Tesla Mannequin Y and the Honda CR-V outsold the Ram, too.
Ram executives blamed a fluke of timing. They launched an all-new 1500 for 2025, however CEO Tim Kuniskis mentioned they didn’t construct luxurious trims quick sufficient to fulfill the market at first. However a brand new evaluation says there could also be one thing else at work.
America could have hit “peak truck,” based on analysts from the auto technique agency Dave Cantin Group (DCG).
Truck Costs Taking part in a Function
DCG’s annual Market Outlook Report is out for 2025. It concludes that People could also be on the verge of a slide in truck gross sales.
The development “displays American shoppers’ rising battle to afford a brand new car,” DCG says. “The typical buy value for vehicles now hovers round $37,400, for SUVs and CUVs is greater than $43,600 and for pickups is $54,600.”
Associated: Common New Automotive Value Fell in January, Up From Final 12 months
In a 2024 Kaiser Associates survey, DCG notes that simply 7% of consumers mentioned their subsequent new car was more likely to be a truck, down from 9% in 2023. SUVs additionally misplaced floor, slipping from 44% to 43%.
Sedan Buy Plans Rising
Sedan buy plans grew from 26% to 29%. Even hatchbacks and sports activities vehicles noticed a 1% bump every.
Vans nonetheless held attraction to the youngest consumers. Customers between 18 and 24 grew likelier to purchase a pickup — 8% have been curious about a truck in 2023, however 12% have been in 2024. The core car purchasing demographic of 35-to-54-year-olds noticed truck curiosity fall and sedan plans rise from 24% to twenty-eight%. Patrons over 75 have been essentially the most curious about sedans, with their intent leaping from 33% to 43%.
“We see a decline within the quantity of people that imagine their subsequent buy will likely be a truck or SUV and an equal improve within the quantity who intend to buy a automobile,” says DCG President Dave Cantin. “Add to that the report that inflation hit a 7-month excessive in January, and we’re seeing much more proof that peak truck is an actual development to observe.”